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SP500: short low down

2022-08-31
1132
Fundamental analysis:

The S & P 500 index closed down 43.69 points, or 1.08%, at 3986.92 on Tuesday, August 30; The consumer confidence index of the US Chamber of Commerce in August was higher than expected, reaching the highest level since May this year and rising for the first time in four months. This shows that Americans are becoming more optimistic about the economy against the backdrop of falling oil prices.


S & P SP500 - 4-hour K-line diagram shows:



Technical analysis:


According to the 4-hour chart, the market is shrouded in short-term sentiment. After the low-level narrow range consolidation and translation, the short-term decline has not stopped. The MACD index maintains consolidation and translation in the short-term region, and the RSI index is weak in the short-term region;


Long and short turning point: 3993


Pressing position: 4017, 4042


Support position: 3966, 3949


Trading strategy: 3993 lower bearish, target 3966, 3949


Alternative strategy: bullish above 3993, targets 4017 and 4042

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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